Guideline Value for Thiru.Vi.Ka. Street

Thiru.Vi.Ka. Street guideline value

The current guideline value of Thiru.Vi.Ka. Street is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Theerthangiriyampattu village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Thiru.Vi.Ka. Street has changed

Looking at the revisions, the guideline value for Thiru.Vi.Ka. Street has seen significant changes over the years. In 2002, the guideline value was Rs 425 per sq.ft, which decreased to Rs 44 per sq.ft in 2003. After that, it increased dramatically to Rs 200 per sq.ft in 2007, and then it doubled to Rs 400 per sq.ft in 2012. However, it dropped to Rs 268 per sq.ft in 2017, before rising again to Rs 400 per sq.ft in 2023, and finally reaching Rs 440 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

The overall change from 2002 to 2024 reflects a modest increase of 4%. Notably, there are no figures available for the revisions in the years not mentioned in the list.

Guideline values in Theerthangiriyampattu

Theerthangiriyampattu village has 24 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft. The median guideline value in this area is Rs 605 per sq.ft, placing Thiru.Vi.Ka. Street's 2024 figure below that median.

• Thiruvalluvar Street: Rs 605 per sq.ft (2024)
• Thargass Road: Rs 770 per sq.ft (2024)
• Vivek Akbar Avenue: Rs 605 per sq.ft (2024)
• Vivek Akbar Avenue Extn: Rs 605 per sq.ft (2024)
• V.O.C. Street: Rs 605 per sq.ft (2024)
• Sothupakkam Salai: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Thiru.Vi.Ka. Street

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Thiru.Vi.Ka. Street?

The Sub Registrar Office covering Thiru.Vi.Ka. Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Theerthangiriyampattu

The guideline value is a crucial factor during the registration of property transactions in Theerthangiriyampattu. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial implications involved.

It is essential for buyers and sellers to be informed about the guideline value, as it can impact the overall cost of the transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Thiru.Vi.Ka. Street?

The current guideline value of Thiru.Vi.Ka. Street is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 425 per sq.ft in 2002 to Rs 440 per sq.ft in 2024. Notably, there was a decrease in value in some years, such as from Rs 400 in 2012 to Rs 268 in 2017.

What are the other streets in Theerthangiriyampattu?

Other streets in Theerthangiriyampattu include Thiruvalluvar Street, Thargass Road, Vivek Akbar Avenue, Vivek Akbar Avenue Extn, V.O.C. Street, and Sothupakkam Salai, with varying guideline values.

How is stamp duty calculated for properties on Thiru.Vi.Ka. Street?

Stamp duty for properties on Thiru.Vi.Ka. Street is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total stamp duty would be Rs 30,800 at the current guideline value.

Where can I find the Sub Registrar Office for Thiru.Vi.Ka. Street?

The Sub Registrar Office for Thiru.Vi.Ka. Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.